You've got to be crazy to get into a 5mm floor right now. Or maybe ever again...

My first FP to take on Fountain was only $1mm. I did 3-4MM a year wholesale with them on that 1mm alone. You don't need any more than that to make it work. And that was almost 10 years ago........

I agree.

Debt is debt..........I dont care what the source is.

On top of the debt/sales issue, how many buyers have been spoiled by the "inventory blowout prices" on leftover models. If you could buy a new leftover 08 38 Lightning w/525's for 189K (asking) how is a dealer going to ask 350K for the same boat as a 2011 model?

Just wait three years then they can move it at 179k.

Banks are going to need a few years to forget about the beatings they took on boats, airplanes, rvs and other toys. The housing bust was hard enough on them and those "assets" couldn't move/get stolen/stripped etc.

I recently heard of a guy with 20MM in assets get turned down on a new 4MM yacht with a 1MM downpayment. Bank didn't want the risk, if it repo'd the yacht the 1MM wouldn't even cover year 1 depreciation. Buyer didn't want to pay cash for it, thought cash was way more important than a boat so NO SALE.

Prices have got to come down on new boats. In the last 10 years boat prices have sky rocketed! The average joe blow could only afford a new boat because of the crazy (dumb) 10 - 20 year loans the banks were offering. This is what got the boat industry in trouble in the 1st place. Now that banks are not financing anyone for crazy long terms, things are going to have to change.... 28 ft single engine's for over 125k ? Come on, how many "normal" people can afford that?

Fountain should have worried about making his boats more affordable rather than trying to prove how fast they are to everyone.. then maybe the company wouldnt be bankrupt.. just my 2 cents..

The price of materials also would have to come down... and I do not see that in the future. I know resin has gone up approx. 35% since 06... To many factors, and to be honest, if these builders were making so much money over the top, even with slow sales, why are the majority of them out of business. Tough times right now, but I do see a light at the end of the tunnel.